South Africa Inflation Rate Quickens to 4%

Consumer prices in South Africa rose 4 percent year-on-year in March of 2015 from 3.9 percent in February, driven by higher cost of housing and utilities.

Year-on-year, cost of housing and utilities quickened 0.1 percent to 5.7 percent while food prices rose 5.8 percent, slowing from a 6.4 percent increase in February. Education prices recorded the highest increase (9.3 percent), followed by alcoholic beverages and tobacco (9 percent), miscellaneous goods (7.5 percent) and restaurants and hotels (6.7 percent). 

In contrast, although prices fell for transport (-5 percent) and communication (-1.6 percent) the pace of the decrease slowed (-6.3 percent and -1.7 percent respectively in February).

Annual core inflation rate, which excludes prices of food, non-alcoholic beverages, petrol and energy slowed slightly to 5.7 percent from 5.8 percent in the previous month.

On a monthly basis, consumer prices increased 1.4 percent, the fastest pace in seven years. Food prices rose 0.8 percent, doubling from February’s 0.4 percent rise. Cost of housing and utilities surged 1 percent.

South Africa Inflation Rate Quickens to 4%

Joana Taborda |
4/22/2015 9:59:59 AM